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November 27, 2017

Consumer Financial Protection Bureau Official Sues over Agency Showdown
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In Washington D.C., there's chaos at the Consumer Financial Protection
Bureau, as two people are battling for control of the consumer
protection agency, which was created in the wake of the 2008 financial
crisis. After announcing his resignation earlier in the month, on
Friday, former director Richard Cordray resigned and appointed his
former chief of staff Leandra English to be his successor. But President
Trump intervened, unexpectedly announcing he planned to appoint his
budget director Mick Mulvaney to head the agency. While serving as a
South Carolina congressman, Mulvaney voted to eliminate the agency
entirely. Leandra English has sued President Donald Trump over his
appointment of Mulvaney. The 2010 Dodd-Frank Act that created the agency
specifically calls for the deputy director to become acting director
when the agency's top spot is vacant. We'll have more on the battle at
the Consumer Financial Protection Bureau later in the broadcast.


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